Shares of the company closed at $9.77 on Thursday after falling more than 3 percent during the trading day.

The stock is down almost 24 percent this year, amid a national climate roiled by mass shootings that has put pressure on Wall Street to scale back its role in the firearms industry.

Gun control activists have called for a boycott of investment managers Vanguard and BlackRock, which are the largest owners of several publicly traded firearms manufacturers due to their exchange-traded funds. In April, BlackRock introduced new exchange-traded funds that excluded stocks of gun manufacturers and retailers, including American Outdoor Brands.